Correction: Síminn hf. - Results for the third quarter of 2025

In the English version of the announcement titled ‘Síminn hf. - Results for the second quarter of 2025’, the title should have read ‘Síminn hf. - Results for the third quarter of 2025’. The content of the announcement remains unchanged.

Financial highlights Q3 2025

• Revenue in the third quarter (Q3) of 2025 amounted to ISK 7,062 million, compared with ISK 6,955 million in the same period of 2024, an increase of 1.5%. Revenue from telco and TV services decreased by 1.1% year-on-year. Advertising revenue amounted to ISK 609 million compared with ISK 540 million in the same period last year, an increase of 12.8%.
  
  
• EBITDA for Q3 2025 amounted to ISK 1,848 million, a decrease of ISK 67 million or 3.5% compared with the same period in 2024. The EBITDA margin was 26.2% in Q3 2025, down from 27.5% in the same period last year. EBIT amounted to ISK 1,025 million in Q3 2025 compared with ISK 864 million in Q3 of 2024, an increase of 18.6%.
  
  
• Net finance costs amounted to ISK 245 million in Q3 2025, compared with ISK 292 million in the same period of 2024. Finance expenses totalled ISK 486 million, finance income was ISK 240 million, and exchange gains amounted to ISK 1 million.
  
  
• Net profit for Q3 2025 amounted to ISK 622 million, compared with ISK 449 million in the same period of 2024. Earnings per share were ISK 0.26 for the quarter, compared with ISK 0.18 in the same period last year.
  
  
• Interest-bearing debt, including lease liabilities, totalled ISK 19.0 billion at the end of Q3 2025, compared with ISK 17.2 billion at year-end 2024. Cash and cash equivalents totalled ISK 1,116 million at the end of Q3 2025, compared with ISK 835 million at year-end 2024. The book value of the Síminn Pay loan portfolio was ISK 4.6 billion at the end of the quarter. Net interest-bearing debt to 12-month EBITDA¹ was 1.75 at the end of Q3 2025.
  
  
• Síminn’s equity ratio was 40.3% at the end of Q3 2025, and total equity amounted to ISK 17.1 billion.

María Björk Einarsdóttir, CEO:

“The quarter was characterised by sound operations, rising profitability and continued growth across new revenue pillars. Operating profit increased markedly year-on-year, supported by strong cash flow from operations. A successful refinancing, together with Síminn’s strong balance sheet, provides a firm foundation for the Group’s continued expansion in the coming quarters.

Revenue grew year-on-year in mobile and advertising, while fintech continued to drive momentum across other business lines. Advertising revenue in outdoor and television media increased by nearly 13% year-on-year. Síminn also signed an agreement to sell and service Starlink satellite solutions for enterprises through its subsidiary Radíómiðun, in line with the Group’s focus on strong product development in the B2B market.

Television service revenue declined by 5% year-on-year, roughly half of which is attributable to a competitor discontinuing resale of Síminn Premium. The decrease was in line with expectations following the loss of Premier League rights, while the related cost reduction exceeded the revenue impact, as anticipated.

Síminn has firmly safeguarded its rights in these matters in recent months, and it is positive that regulatory decisions to date indicate that equal treatment will be ensured for broadcasters regarding linear content transmission rights.

Reality content from Hayu has reached one million streams on Síminn’s TV platform since its launch late last summer, while more than ten thousand customers have activated their HBO Max subscriptions, now included in Síminn Premium. The range of high-quality Icelandic television content has never been stronger, with two new domestic series yet to premiere this year. A recent Maskína survey confirmed that Síminn Premium is regarded as the leading Icelandic television service, and the company aims to build on this strong position in the coming quarters.

Síminn recently completed refinancing of its bank loans. The new four-year agreement secures improved terms and greater access to funding.

In line with the Group’s focus on continued growth, Síminn is now preparing to implement a new structure. Telecommunications and media operations will be transferred into a new subsidiary, while the parent company will focus on supporting the Group’s development and providing shared services to operating entities. The changes will enhance oversight of business unit scale and profitability, increase transparency and facilitate new growth opportunities.

Síminn’s long-term ambition is to build a strong group of digital service companies capable of meeting the diverse needs of individuals and businesses across an even broader range of sectors.”

Investor Presentation October 22, 2025

Síminn will host a presentation for analysts and investors on Wednesday, October 22, 2025, at 8:30 a.m. at the company’s headquarters, Ármúli 25, Reykjavík. The meeting will be conducted in Icelandic.

The presentation will be available through Nasdaq Iceland’s news system and on Síminn’s investor relations website at https://www.siminn.is/fjarfestar/quarterly-results.

It will also stream live at www.siminn.is/fjarfestakynning-2025.

Questions can be submitted to fjarfestatengsl@siminn.is and will be answered at the end of the meeting.

Financial Calander 2025

Full Year 2025 Results                                            February 17, 2026

Annual General Meeting 2026                                March 12, 2026

Further Information:

María Björk Einarsdóttir, CEO (maria@siminn.is)

Hjörtur Þór Steindórsson, CFO (hjortur.steindorsson@siminn.is)

Attachments

• Síminn hf - Financial results Q3 2025
• Síminn hf. - Consolidated Interim Financial Statements Q3 2025
• Síminn hf. - Investor Presentation Q3 2025